Gyeonggi-do Province collects 3.4 billion won in arrears using the Virtual Asset Electronic Management System.

The Gyeonggi provincial government said it collected 3.4 billion won in arrears from large local tax delinquents in the fourth quarter of last year using its own "virtual asset electronic management system."

The Virtual Asset Delinquency Electronic Management System' is a system that electronically unifies administrative procedures for disposition of arrears between local governments and virtual asset exchanges.

This can increase the probability of detecting virtual asset accounts held by delinquents with self-authentication data.

conducted a total survey of 57,000 delinquents with more than 3 million won in local taxes to prevent large delinquents from concealing their property.

As a result, 17,000 local tax delinquent accounts (including duplicate accounts) were found at the nation's four major virtual asset exchanges, including Upbit and Bithumb, seized 20.6 billion won in virtual assets held by delinquents, and collected 3.4 billion won by inducing voluntary payments.